It's an M35 not an M40 with a Strache decal and a dug out national colors. Strache decals were most often applied post war as they are readily available even today. Not a very desirable combination but the basic helmet and liner appear to be real.

Terry has said it all , I do think this Strache to be wartime applied and that the tricolor would have been overpainted but someone really messed up the helmet by trying to reveal it again.
Too bad as it would have been a nice one.